41-45 Colby Place
Phillipsburg Town, NJ 08865
Price: $625,000
GSMLS: 3992931Type: Multi-Family
Style: 3-Three Story, Triplex
Total Units: 3
Beds: 8
Baths: 3 Full
Garage: No
Year Built: 1900
Acres: 0.17
Property Tax: $8,181
Description
Investor Alert! This Fully Rented Triplex Multi-family In The Heart Of Phillipsburg Offers Strong Returns And Turnkey Stability. Renovated In 2024, 41-43-45 Colby Place Features 2,622 Square Feet Of Updated Living Space Across Three Spacious Units. Set On A Quiet, Private One-way Street, This Turnkey Property Blends Classic Charm With Modern Convenience. Strong Financials Include A 10.11% Cap Rate, 10.20 Gross Rent Multiplier, And 1.5604 Debt Service Coverage Ratio Making It A Great Candidate For A Dscr Loan. Each Unit Showcases Fresh Upgrades Like Luxury Vinyl Plank Flooring, New Cabinetry And Countertops, Contemporary Finishes, And Split-system Heating And Cooling For Efficient Year-round Comfort. The Upper-level Finished Loft Adds Versatile Bonus Space Perfect For Storage, A Home Office, Or Additional Living Area. Fully Occupied With Reliable Tenants, This Property Is Generating Income From Day One With Minimal Maintenance Required. Tenants Appreciate The Bright Interiors, Smart Layouts, And The Peaceful Neighborhood Setting Close To Schools, Shops, Dining, And Commuter Routes. Whether You're A First-time Investor Or Expanding Your Portfolio, This Income-producing Triplex Offers The Ideal Combination Of Location, Performance, And Potential. With Strong Market Appeal And Updated Systems Already In Place, 41-45 Colby Place Is A Smart Buy In A Growing Rental Market. Ask Your Realtor For The Rent Roll / Proforma Spreadsheet And Walk-through Video Today.
General Info
Style:
3-Three Story, Triplex
SqFt Building:
2,622
Total Rooms:
20
Basement:
Yes - Full, Unfinished
Interior:
Carbon Monoxide Detector, High Ceilings, See Remarks, Smoke Detector
Roof:
Asphalt Shingle
Exterior:
Vinyl Siding
Lot Size:
n/a
Lot Desc:
Level Lot
Parking
Garage Capacity:
No
Description:
On-Street Parking
Parking:
On-Street Parking, See Remarks
Spaces Available:
3
Unit 1
Bedrooms:
4
Bathrooms:
1
Total Rooms:
7
Room Description:
Bedrooms, Dining Room, Kitchen, Living Room, Porch, Master Bedroom
Levels:
3
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
Carbon Monoxide Detector, Smoke Detector
Utilities:
Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat, Tenant Pays Water
Handicap:
No
Unit 2
Bedrooms:
2
Bathrooms:
1
Total Rooms:
7
Room Description:
Bedrooms, Dining Room, Kitchen, Laundry Room, Living Room, Porch
Levels:
3
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
Carbon Monoxide Detector, Smoke Detector
Utilities:
Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat, Tenant Pays Water
Handicap:
No
Unit 3
Bedrooms:
2
Bathrooms:
1
Total Rooms:
6
Room Description:
Bedrooms, Kitchen, Living/Dining Room, Porch, Master Bedroom
Levels:
3
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
Carbon Monoxide Detector, Smoke Detector
Utilities:
Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat, Tenant Pays Water
Handicap:
No
Unit 4
Bedrooms:
n/a
Bathrooms:
n/a
Total Rooms:
n/a
Room Description:
n/a
Levels:
n/a
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
n/a
Utilities:
n/a
Handicap:
n/a
Utilities
Heating:
Baseboard - Electric, Baseboard - Hotwater, Floor/Wall Heater, See Remarks
Heating Fuel:
Gas-Natural
Cooling:
See Remarks, Wall A/C Unit(s), Window A/C(s)
Water Heater:
From Furnace, Gas
Water:
Public Water
Sewer:
Public Sewer
Utilities:
Electric, Gas-Natural
Services:
Garbage Extra Charge
School Information
Elementary:
PHILIPSBRG
Middle:
PHILIPSBRG
High School:
PHILIPSBRG
Community Information
County:
Warren
Town:
Phillipsburg Town
Neighborhood:
n/a
Financial Considerations
List Price:
$625,000
Tax Amount:
$8,181
Land Assessment:
$27,400
Build. Assessment:
$166,600
Total Assessment:
$194,000
Tax Rate:
4.55
Tax Year:
2025
Listing Information
MLS ID:
3992931
List Date:
10-16-2025
Days On Market:
3
Listing Broker:
KELLER WILLIAMS REAL ESTATE
Listing Agent:
Request More Information
Shawn and Diane Fox
RE/MAX American Dream
3108 Route 10 West
Denville, NJ 07834
Call: (973) 277-7853
Web: MorrisCountyLiving.com
